What Is an ITIN Real Estate Loan?

An ITIN loan is a mortgage designed for borrowers who don’t have a U.S. Social Security Number but do have an Individual Taxpayer Identification Number issued by the IRS. These loans allow non-citizens, certain resident and non-resident aliens, and other individuals without SSNs to purchase or refinance property in the U.S.

Who Typically Uses ITIN Loans

• Immigrants without SSNs who are lawfully present in the U.S.

• Foreign nationals investing in U.S. property

• Self-employed individuals filing taxes with an ITIN

• People building U.S. credit history but not yet eligible for a Social Security Number

Key Features

• Uses ITIN in place of SSN for identification in the loan process

• May allow alternative credit documentation (rent history, utility bills, bank statements) instead of traditional FICO scores

• Usually requires higher down payment than standard mortgages (often 15%–30%)

• Loan amounts, terms, and rates vary but are generally more conservative than conventional mortgages

• Can be used for primary homes, second homes, or investment properties (depending on program)

Typical Requirements

• Valid ITIN card/letter from the IRS

• Proof of income (tax returns, pay stubs, or business bank statements if self-employed)

• Proof of residency (lease, utility bill, or similar)

• Credit references (may include rent payment history, utility records, or foreign credit reports)

• Down payment funds with documentation showing legal source

• Two years of filed tax returns using the ITIN

Pros & Cons

✅ Pros:

• Opens the door to homeownership for people without SSNs

• Accepts alternative credit and documentation

• Can help build U.S. credit history over time

• May allow foreign nationals to invest in U.S. property

⚠️ Cons:

• Higher down payments and interest rates compared to traditional loans

• Stricter documentation requirements in some cases

• Limited availability compared to conventional loans

Why They Matter in Real Estate

For many immigrant and foreign national buyers, an ITIN loan is the only viable path to owning U.S. property.
Agents who understand these loans can:

• Expand their client base

• Build trust in underserved communities

• Facilitate transactions others might overlook